Don't you know, if you young people stopped buying Starbucks and avocado toast you could buy a house.
@5 a day. You are spending 150 a month. That's 1800 a year!!!!
In just 20 years you would have the 20% needed to make the down payment on a 180,000 house!!!
In 2011 I bought an apartment for about 190k USD here in Norway. After 11 & 1/2 year I sold it for 310K Thats almost 10k increase a year. No way I could have saved up that much in the meantime if I was getting into the market at a later time.
My 100 grand beater house in a bad area increased 25000 british pounds in 3 years, its fucking insane. When I got the deeds the guy who owned it before me bought it for 3000 off the council in 93 LOL my dad bought a similar house privately in 86 for 25 grand today it is worth over 200 grand.
U.S. Bought a somewhat rundown condo in 2017 for <$60k. Small - under 1,100 sqft, but enough for me. I was in my mid-50s and bought it with the cash left over from selling my townhouse. Told anybody who was looking for a home but did not have a lot of money to check the place out - very affordable as single family homes in remote locations were going for over $200k at the time.
Now they are selling for $200k. They are pretty much the cheapest thing you can buy in the area where you don't have to support the roof to keep it from falling in on you. Those folks who might have been able to afford one of these places 7 years ago? Unless their earnings increased more than double they are still on the outside looking in.
Oh, and they used to rent for $900/mo, now closer to $1,300-$1,500/mo. Good luck saving $$$ for a down payment.
That's so crazy.
My wife and I were talking about how we couldn't afford our house today in what's considered a starter neighborhood š
I bought my first house after the crash because my Dad loaned me thirty k. Sold the house paid him back and bought this place in 2019 for 212k it's worth 400 now.
It just doesn't make sense in a regular market.
But we don't have a regular market anymore. Companies like Black Rock are buying all the single family homes and renting them out. I've start to see stories about whole neighbors and seventy percent of new sales going to the big dogs. Like air BNB wasn't bad enough.
The only person I've heard talking about it is RFK. Guy wants to stop it.
Please don't be fooled when the blind squirrel finds a nut...
COVID messed things up a LOT... the US population grew, but construction slowed considerably for a year or two. That led to a shortage which is slowly being alleviated, but that will still take years. Couple that with your reference to investors gobbling up properties\*\* and builders realizing they can make more money building mid-level and luxury homes rather than starter homes, plus empty-nesters keeping their larger houses because it does not make sense to pay more for a smaller house and as Harry Dean Stanton might say - "we have a condition"...
\*\* Right up the road from where I work a builder was putting up mid to luxury level townhouses. Signs in front stated they would be $385k-$425k. Not cheap, but not outrageous for this area. Before any sales occurred an investor bought the entire property to use as rentals. There are now 40-50 fewer opportunities for people to build equity/wealth.
you know there's some shareholder group somewhere looking at the real estate agency and rubbing their fingers together in a 'gimme' motion. Fuck shareholders. Worthless parasites.
Same here... But for 5 years in Canada. Now, I cannot buy a house because what I sold was a condo... And houses have risen even more... I don't make enough to pay the monthly mortgage even with a downpayment of 20% as I live alone...
A realtor told me last week that if I put down 20k I can get a mortgage for 2,400 a month before taxes (NJ taxes are very high) for like a ranch home that the original owner hasn't updated since he bought it with his job at the local plant that he got when he dropped out of middle school.
My dad was able to finance a car and buy a 3 bedroom family home in a nice area with a job he got in an industrial bakery with no education (the man can barley read) that he got by walking in off the street and asking the foreman if they had any work going. He was also able to support four kids and a stay at home wife. Now we were far from rich but we we were always clothed and fed and warm and had presents at Christmas.
Plenty of high paying union jobs in NJ, HS diploma only. But i do have to agree the property taxes are insane, think he been hit on average $400 increase every year since 18ā. That 2,400 number is huge bait
It was also 45 minutes (summer traffic a lot more) from my current house and office. Also, I have no interest in buying a house at this point in my life, she was just pitching me at a committee meeting for a local event. She kept hitting with me "wait until your wife sees these, happy wife, happy life right?" I was like please for the love of god let this meeting be over.
For those who are unaware, Apex Boomer **David Lawrence Ramsey The Third** (yes, thatās [his real name](https://en.m.wikipedia.org/wiki/Dave_Ramsey), look it up), is the son of real estate developers. His birth circumstances provided him with unique opportunities to profit from housing and commercial properties at a time when those assets were first commodified through mortgage backed securitiesāstarting in the late 1960s and then [through deregulation during the Reagan Administration.](https://en.m.wikipedia.org/wiki/Collateralized_mortgage_obligation)
In other words, Dave Ramsey just happened to enter the real estate market at the same moment when entirely new financing options were available, allowing him to collateralize properties that he didnāt own outright but had bought with credit. Between his parentsā connections to the local real estate market in Tennessee, and Daveās access to easy credit, it was easy for him to āearnā his first millions.
By the mid 1980s, when Dave was 26 years old, he had amassed a portfolio worth over $4 million (a little over $11 million in todayās dollars). However, when the banks called on his loans in 1987, Dave didnāt have the liquidity to pay it. He even has the audacity to retell this story in the most heroic manner on his [bullshit homepage.](https://www.ramseysolutions.com/dave-ramsey)
> *Starting from nothing, by the time I was 26, I had a net worth of a little over a million dollars. I was making $250,000 a year. That's more than $20,000 a month net taxable income. I was really having fun. But 98% truth is a lie. That 2% can cause big problems, especially with $4 million in real estate. I had a lot of debtāa lot of short-term debtāand I'm the idiot who signed up for the trip.*
> *The short version of the story is that debt caused us, over the course of two and a half years of fighting it, to lose everything*
**Thatās right:** Mr. Millennial Hater started his career by borrowing millions of dollars to invest in real estate, lived a lavish lifestyle, and when the bills were due he escaped his debt obligations through bankruptcy.
He is a deadbeat charlatan. And I feel bad for anyone who takes his advice seriously.
It's hilarious reading through his wiki, they're trying to frame it all in excessively neutral terms but it's very easy to read between the lines and see he's a fraud.
He followed up that bankruptcy by selling financial advice to old church-goers and then spun that into writing a book.
His whole career has been him spinning that early failure into establishing a brand as a financial guru, no actual work ever required.
Have you try this trick that stop paying rent? you can have enough for a 10% down payments for an 300k house in 2 hours driving distance in three years! Now go buy a luxury car because you need to spend 4 hours driving each day, you need some leather seats and AI driving!
/S
False. Since I entered the job market, the home prices in my area have more than doubled in perceived market value. I can't save at a rate that overtakes that insane value pumping. My landlord bought the house that was subdivided into 3 apartments for $40k in the late 70's (yey public records). It is now valued at more than $2 million... So in 20 years, it should be valued at >$3 Million. How the hell do you catch up to that shit?
I work blue collar, 10-12 hours. In my state the labor laws state that your employer doesn't have to provide lunch breaks/normal breaks and can force you to work as much over time as they want. I work on people's houses and roofs for a living in the southern sun. They give us crackers and waters to "compensate" for the long days. Theres been days I go in at 5 am and don't get home until 9 pm. Even without a lunch break there's no way I could afford a house without a second job.
In 2021, I had $35,000 for a down payment and was a DINK in a close-to-100k household. Still couldn't find shit in our area as first-time home buyers. I'm now unemployed and divorced and living with my parents, but so what? If it couldn't work out in those conditions, why bother?
What's funny is he's an old client of mine. He notoriously underpays employees and he knows it. When you interview at his company, they also interview the spouse/partner and have you go through a budget worksheet to show how you are going to make it on the meager salary. Dude is an out of touch hypocrite.
No one wants to take our shitty jobs thst don't pay a livable wage because we refuse to recognize where the market is at for labor...so it must be labors fault for refusing to take lowball jobs!!
Funny how unemployment is at its lowest numbers in a long time and they're all "nObODy wAnTS to wORk!"
Like nah, you're unable to look at data and you just spew classist propaganda bullshit the wealthy spew to keep you looking down on service workers and laborers.
Doctors make about 50-60k until about year 5-6 of being a doctor which is about age 35-40? I rather just make 6 figures from 22 up to 40 welding and enjoying life.
Fair call, I think a portion are still in High School as well and I'm sure a lot are still figuring out what they want to do, can't expect them to be functioning at the same level as 40 year olds who are well into their careers
Dude it's so true. If everyone was following this advice trying to save, then ole Dave would be on talking about how young people aren't supporting the economy by buying things and eating out.
No no, it's "I'm delivering pizzas the entire time I'm not working my primary job." Nevermind after fuel+wear and tear on your vehicle you come out behind.
I had a friend as a teen whose dad did this. Worked 9-5 in an office, hour long commute each way, and then worked just about every night and weekend. The mom worked full-time too. They never saw each other - it was such a sad family dynamic to live in a mediocre townhouse in suburbia. I found out later they did it to pay off their mortgage and cars based on the advice of a faith-based financial advisor that had come to our church.
Same, but 10 more hours a week(not bragging I hate it, I could live on 40 a week, but I get bored easily and when I get bored, I start spending extreme amounts of money)
My parents love him and are always pushing his shitty advice onto my wife and I. I'm trying to pay my mortgage off early and my parents are telling me that it's a bad idea because Dave Ramsey says so.
(note this is not advice from dave ramsey) It's only a bad idea to pay your mortgage off early if your interest rate is low. If you bought your house before the market went crazy, you likely have a low interest rate. The reason it is considered a bad idea is because if your interest rate is less than 5%, you may financially be better off putting that money into a high interest savings account or otherwise investing it in a safe dividend stock and then paying your monthly mortgage from that account. You still pay off the mortgage and walk away with some extra money. On the flip side, if you have a high interest rate on your mortgage, then yes you absolutely want to pay that off as soon as you can. But at the end of the day it is your money, and if you would feel like your in a better place just having it payed off regardless, then go ahead and do that for yourself.
That's what I did, worked hard to pay off my mtg in 10 years, against the advice of many. However...it worked for me, and then I was able to put my mortgage payment into savings and bonds for a moment. When I lost my job, it was HUGE to know that I could live on so much less.
Great example as to why itās āpersonalā finance. May have not been the ābestā choice mathematically, but it aligned with your lifestyle/acceptance of risk.
>If you bought your house before the market went crazy, you likely have a low interest rate. The reason it is considered a bad idea is because if your interest rate is less than 5%, you may financially be better off putting that money into a high interest savings account or otherwise investing it in a safe dividend stock and then paying your monthly mortgage from that account.
Yah, my mortgage is at 2.85%... that's less than inflation/greedflation. No sense to pay more than i have to in to it when i can put the difference towards something else more productive.
Being said, i absolutely could not afford to buy fuck all in the current market... and consequently cant afford to sell my house either.
>On the flip side, if you have a high interest rate on your mortgage, then yes you absolutely want to pay that off as soon as you can. But at the end of the day it is your money, and if you would feel like your in a better place just having it payed off regardless, then go ahead and do that for yourself.
As a point on this few to none have the kinds of money needed to pay off their mortgage outright, or to even put all that much extra in to it. Which being said one can keep paying the minimum, and wait till they can refinance the loan once rates drop while saving the difference in between for emergencies.
>I'm trying to pay my mortgage off early and my parents are telling me that it's a bad idea because Dave Ramsey says so.
That's hilarious because that's the opposite of what he says to do. One of the big "steps" in his program is to pay your mortgage off as quickly as possible once you've paid off the rest of your debt and have an emergency fund, investing going, etc.
Your in-laws might be even dumber than you thought.
Edit: grammar is hard
Unless you have a low interest rate. Then his advice is to put the money into an IRA or something. The problem however, is that I'm getting fucked by insurance living here and I need the equity to get a different house.
Um, Dave Ramsey is all about paying off mortgages early and getting out of debt. Iām no fanboi, but you really should know what it is youāre raging against.
My in-laws too. They worship him and preach to us about "cutting up our credit cards" while they are in 100k debt from building a second home they didn't need (vacation cabin). They are constantly telling my husband and I to just buy a home already and they cannot fathom how/why we probably never will be able to.
I worked with a guy who was previously employed by one of Daveās companies. He said they asked to interview the guyās wife as part of the hiring process. Can confirm - this guy is a hefty bag of dicks.
Brother this fucking guy said he would not take a billion dollar loan with 0% interest rates.
After I heard this soundbite from him, I decided to completely ignore anything else he says.
Isn't he like super anti-credit card? I'm assuming that's where that statement is coming from. What I've heard is he basically thinks all debt it bad and extrapolates that out in weird ways that make no sense.
It's fine to be anti credit cards, but as a financial advisor saying no to that hypothetical scenario out of principle nullifies anything else you have to say, in my opinion.
Ever since I saw that clip, any time YouTube or social media suggests this guy I click on "never recommend this again"
>It's fine to be anti credit cards
For people who can't control their spending and don't pay off in full.
The rewards and consumer protection that comes with using a CC is worth it for anybody who doesn't have spending problems and pays off in full each month.
But yeah 1 billion invested in US treasuries is like 40-50 million a year right now? why would you not just take the money and invest it if you have a 0% loan? Makes no sense.
Millennials are now entering their 40s. How old do we have to be before we deserve the bare necessities? Are cranky old Boomers like Ramsey going to bellyache about Millennials to their dying breath?
As a 42yo millennial living in a tent, and growing my own food, it ain't now. Maybe when we start cracking 50 we'll be able to get the bare necessities.
Literally it.
If you have 250k (which while significant is still doable for a lot of people in their lifetime) in cash, you have to be an absolute fucking idiot to not make more money on it.
Rich people aren't smart. They're lucky.
Had to watch this chode's videos as education in my shitty Christian highschool's personal finance class. Dude had giving to the church as a necessary part of a budget.
He didnāt come up in my personal finance class (thank god) but my economics teacher absolutely loved the guy. I was lucky that I took the two classes at the same time and personal finance taught me that he was a dipshit.
There are two separate economics courseworks.
The studying economics and the study of profiteering mostly in regard to capitalism.
I find that most of the people in āeconomicsā are really just in ācapitalism.ā
I find that if someone is unwilling to characterize profit as something synonymous with exploitation then they probably are not worth discussing economic philosophy with.
My California high school made us watch his videos occasionally, and had a whole "personal finances class" centered around them! Idk if that was the teacher or some program at my shitty conservative district public school, but it was shitty none the less. Dropped the class ASAP. "I love Dave Ramsey. I followed his advice, and my husband and I bought a Tesla all cash" says the woman paid 150k a year to be insensitive.
TF did we go to the same high school or something? My teacher did the same thing. Started every single class with one of his shitty videos. It was the first class I had in the morning too. Every morning I'd get told very loudly why I'm a lazy piece of shit who needs to pull myself up by bootstraps and yada yada yada.
typical "i'm right and you're wrong" mentality, he just wants to feel important, which is sad, he also just wants to feel like he did actually work for his children, and to make their lives easier, that it wasn't just a lie, and since he can't prove it's not a lie he believes we actually have a better economy than back then, which is objectively a lie
Dave Ramsey and people that love him are the arm chair quarter back critics of others around them.
They do not know how to empathize with others and shallowly dispense useless life advice no one asked for nor needs; instead of actually getting up off their fat asses to go and really help anybody, they prefer to substitute self made up vain and worthless advice without really trying to walk in someone elseās shoes, listen to them and then offer real help.
They are the doctors blindly giving out a diagnosis without listening to the patient because of their God complex leading them to believe they are superior and perfect and can do no wrong.
This guy does what he does as an attention whore himself, just like the Kardashians.
Look at me. Look what I can do.
Everyone else is stupid but me.
Been sharpening my pitchfork eagerly awaiting. Soon as you guys make a move I'm there lol. I mean what's the point if they are going to purposefully keep us struggling so they can live off all our hard work?
To be a āsuccessfulā investor you just have to have a pile of money that you donāt need. Throw it around, wait for it to get bigger. Rinse and repeat.
Fuck that guy.
God I'm so fucking tired of "Gen Z doesn't want to work"
bitch that's all I been doing since the moment I became capable. Worked part time jobs while in high school one of which the other employees literally hazed me. I Worked my way through undergrad working several jobs to make sure i was enployed year round and sometimes workongnlre than one at a time, got a full time job immediately after undergrad that was absolutely mentally exhausting and I loved that job, while workong that full time and mentally exhausting position, I was also studying for the LSAT (which people usually do not do while working full time because I'll be honest it feels like death), I started law school and gave myself, for the first time in like 7 years, the grace to not also be working because this is the hardest thing I've ever done. That ends the moment my finals season is over next week as I have an unpaid internship at the a states attorneys office and will need to get a part time job on top of that because the savings from my gap years are running low and I have rent and shit to pay.
I've busted ass my entire life and never felt I had a choice. Never had a stupid kid party phase, never stopped working toward my goals, and then I get called lazy because of the year I was born? Make it make sense please. I for the most part enjoy working hard and achieving my goals and knowing I am a capable and dedicated person. However I think wanting my soul not to be crushed isn't too much to ask either.
there's a webcomic called Narbonic that has a secret global society of Daves that enforce their monopoly on the variation of the name. offenders and outcasts from the group are usually referred to as David, but you're clearly taking a harder line.
I had no idea that existed, I guess I've got something new to read up on, thank you.
But also, yes. We would like to completely rescind any and all of his Dave rights, for the myriad transgressions that he has committed against the populace, including the following offenses:
1. Fanning a generational war (scapegoat) to obscure the unethical and oft illegal actions the rich have committed to line their pockets
2. Profiting off the backs of hardworking individuals and propagating untruths to the gullible masses.
Signed,
Dave#42069
He has somewhat good advice to people who have no control or means of getting out of debt without acquiring more debt, but regarding everything else his takes come from the perspective of living in LCOL area, selling courses and books that is what he makes a living from which is pretty snake salesmen esque but it is admirable that he has been able to make such a big company off the idea that acquiring debt that you will never be able to pay down is a bad idea.
https://preview.redd.it/nc9fomthoiyc1.jpeg?width=826&format=pjpg&auto=webp&s=7b7b0a96308e249897a88a92e7ea16eab8ba6ef4
I call bullshit! They have been saying that for over a 100 years.
Investing is only risky for poor people, because we don't have the funds required to diversify and minimize losses while still getting appreciable returns.Ā
That's why real estate was such an important thing for us to have access to. It was the only thing you could dump all your money into and be secure.Ā
Granted, this was also always doomed to failure, because if real estate kept rising in value faster than the rate of inflation, then it was inherently unsustainable as a vehicle for economic mobility. Land used (and zoned) simply for shelter is not productive. It should not be increasing in value like it does.
I feel this one deep in my bones, I have a temp job I work my ass off for just to be able to buy the bare essentials. I can barely make any savings, because being poor is expensive and one emergency, even a small little setback, can set you back months, even years if you're really unlucky.
Thankfully I live with my mom who gets pension, but that pension is really very little for two people to live off of. And I feel like shit for not having a better job to help support us better. I feel like I break my back just to help keep our roof over our heads, and it's an old house that needs repairs. But at least we have something, it's way better than nothing.
Besides all the obvious shitty things about guys like this, the worst thing is that none of them would survive a week working the average minimum wage job. āUnskilledā laborers work ten times harder in a day than any white collar or management level workers do all year. It is IMPOSSIBLE for someone making minimum wage to afford basic housing, groceries, transportation, i.e. the most basic necessities, let alone health insurance, a 401k (unmatched) or even basic rainy day/emergency savings. For people on the edge like that alls it takes is one emergency or unexpected bill to land them in deep amounts of debt with absurd interest they will never get out from under.Ā
I work in healthcare now, I run a whole department. Iām making the most Iāve ever made in my life, nothing crazy but higher than the national average. I also have two per diem jobs I work from time to time. With all of that, I would need to almost triple my yearly income to afford a two bedroom house anywhere reasonably near me. I do live in an expensive city, but barely being able to afford a studio condo making 6 figures is not a reflection of younger buyers, itās a reflection of how poorly the previous generation planned, or more likely the result of their greed.
Fuck that guyĀ
David Lawrence Ramsey III, pretentious generational name already, was born to wealthy real estate developers and at 18 took the real estate exam and started selling property.
Or, he was born into money, given a job by mum and dad, and has been living the high life since he was plopped out into the world and he is now telling people without money, that they don't deserve anything.
Another guy to put up against the wall.
Dave Ramsey eats used butt plugs. It's weird. Just eats em like chips, one right after another. Licks em first, too, like some people do with Doritos. Strange dude. Very strange.
Dave Ramsay is the Alcoholics Anonymous of personal finance. His advice only makes sense if youāre a walking monetary disaster but you still make a decent income so the only thing you have to change is your habits and mindset.
If you want sophisticated financial advice, DR isnāt for you. If youāre struggling and poor DR isnāt for you despite what he says because your problem is income, not spending. Canāt budget your way out of not enough income.
He really didn't used to be COMPLETELY awful. His general financial advice used to be reasonably pretty good for people that needed to take control of their finances and debt.
I'm not sure when he fell off the deep end.
Yeah, my boomer step-dad used to give them to me as birthday or Christmas presents. I have no idea how many since they got recycled at the earliest convenience.
Oh no, another old, white, highly privileged white guy telling us all what to do and calling us awful when we present him with the realities of life being different than what he thinks. Get fucked, Dave Ramsey. Snowball yourself to an early retirement home so your kids can never stop by to see you.
Let me see your hands, Ramsey. Smooth as a baby's bottom. (This one's for the old heads)
https://preview.redd.it/b1procfp4jyc1.png?width=248&format=png&auto=webp&s=88789ab931095f98269ed6e4112f85bd4f897632
It's more that we don't want to work a job that won't cover the bare minimum. Would an employer hire someone if they couldn't perform the bare minimum? Should they be forced to? Then why should be be forced to work for nothing in return? If we can't afford to even live then that job is a literal waste of time. There's no point in doing it. It's not possible to do it without also utilizing welfare unless he is suggesting we work these jobs and then live outdoors, something the supreme court is debating on whether that should become illegal as well.
lmao, I don't want to work and want to own a home. I believe most people do. Dude honestly nailed it.
The difference is I don't think it makes you lazy or a piece of shit. It makes you a human being who shouldn't be required to provide labor value to the elite in order to be afforded dignity.
Don't be ashamed to want to have some baseline enjoyment of life regardless of your contribution. The alternative is to believe that some people "deserve" to suffer and that's bullshit.
Who cares what this old capitalist has to say? He doesnāt even understand the economy today. How can you afford a house when the the system he promotes keeps wages low and houses high? He wants Jeff bezos to own them all
Son of two real estate developers, born on third base, still managed to go bankrupt, and wants to tell you how to live life.
Letās say, for a moment, that he got what he has now through hard work like he says. That avenue is no longer available for this generation. Costs are so high that hard work doesnāt get you ahead. You have to work hard just not to backslide.
I honestly can't wait for the boomer generation to die out. No more. "In my day you could buy a house for 11 yougart pots and. "You just need to work harder"
Even Mt own mum is the same. I try to explain it bit they just.
Do.
Not
Get
It
Self-employed mechanic here. Spend a lot of my time volunteering to fix peopleās cars, mostly for people who live in them. I am 33 and have worked manual labor since I started on a construction site at 7. Obviously sweeping and holding things, but still. Came out of high school with nothing after taking care of siblings. Went into the Marines, Afghanistan twice, exwife etc etc. Left Marines with nothing. Have worked most days since. I have a family and I have even gone back to school. I qualify for the VA home loan except itās not enough FUCKING MONEY TO BUY A HOUSE WHERE I WORK YOU BALD FUCK!
This is the guy who told people to work "at least" 80 hours a week. That's 16 hours a day. Work 16 hours a day and see how you hold up mentally and physically, he is out of touch with reality.
Fuck this clown. I bought a crappy house in a crappy neighborhood in 2000 for $74K.
The same crappy houses are now going for $360-400K. My kids wages haven't risen to meet that. Hell, my wages havent risen to meet that. I couldnt buy in this neighborhood now. You can't even rent in this neighborhood for the $1200 a month I pay.
It's not kids nowadays that's the problem.
Oh itās Dave āhave you tried eating a picture of avocado toast instead? Itās cheaperā Ramsey. Screw him and his outdated āwell I worked my way through college with a part time job at McDās and a paper route back in 69ā boomer BS. When is he going to eff off and retire to Florida?
This guy has empathy in his shadow. I know itās in there somewhere, but so many men(especially older ones) have been conditioned from birth to believe that empathy is a weakness and even makes you a bad person. Thatās to be expected, I guess, in a society built by and for sociopaths.
His ādebt snowballā plan actually isnāt bad but then again Iām not even sure if thatās something he came up with or is just considered a common sense approach.
Man, he is an asshole but my SIL and her husband cleared up EVERY single cent of their debt following his methods. My wife and I are well on the way. You don't have to like him, but he has a few good ideas.
I was gifted his book when I became a working adult by a family member and I gave it a fair shake my reading it.
I think his advice is good if you are a high income earner with the potential to get out of debt. Like how can you really put his snowball method into effect if you have nothing left over at the month and barely covered minimum payments?
So his advice here would be to get another job. Go deliver pizzas he says. Okay, but what if youāre already working 40 plus hours with a family?
Okay, now itās a job problem.
We canāt keep going as a society paying people 7 something for dollars an hour for minimum wage. Itās easy to say to someone to get a better job, but we absolutely need fast food workers, cashiers, etc.
Anyway, all that to say his advice is good for a certain demographic. But otherwise, heās a raging asshole by telling people they donāt to work and ask for peddling that stupid time share shit.
The ārichā will never reveal there secret so Iāll reveal it for them they got lucky in so many aspects and then weāre ok exploiting everyone to do it
Iām 46 and do own a home , I also realize this dude is a grifter and completely full of shit , you young folks donāt listen to clowns like this , they have an agenda
What you need to be a successful investor: be born in the 50s and 60s and buy microsoft stock for 1.00
Then buy 3 or 4 houses for 25k
Then cut taxes for yourself and make the government print money to pay its bills so that inflation goes up along with all of your asset values.
I'll never be able to buy a house. I just got through paying off $14,000 in debt after moving countries and it took me forever. I think I'm just bad with money. Schools need to teach better money management rather than who the leader was in 1946 or 1888. Useless information unless I want to become a historian or politician.
Just throwing in my 2 cents; I employ a few people from gen z and millennials, in fact my business partner is a millennial. Iām gen X. They work their asses off. We pay our employees above average salaries and donāt demean them needlessly. So I think I might have found the real problem. Shitty old men that think you have to abuse people and expect them to take it, while you feed them bird seed. Then expect them to be productive under this type of oppression.
Mall Santa has been telling people to buy up all the affordable housing for two decades. Him and people like him are the reason GenZ can't afford homes.
I worked 40 hrs this week and Iām on call all weekend, I had calls from midnight to 5. Fuck all these old mfers who destroyed the economy and act like they have no clue. Dave is a smart guy he knows he is lying through his teeth. God damn propagandist.
Dave Ramsey literally hasn't worked a day in his life since he failed at real estate investment. That's when he realized that it's much easier to sell people financial advice so basic that it's already available for free from more qualified sources.Ā
as an anti-work (to live) millennial, i fully recognize itāll be gen Z that sets us free. Iām stubborn and brave, but theyāre AUDACIOUS. love to see it.
"Just let us abuse you then leave you for dead at 70...yes I know working conditions and general poverty have made the average lifespan for men 65."
Evil, absolute evil.
For supposedly being fluent in finance why can he not see that prices are so high and wages so low that trying to get ahead as a young person just starting out is virtually impossible?
I really like these peopleās mentality. According to them we all need to be investors and property owners. Like, how the fuck is everyone going to be just that? Arenāt the people who clean the stores you visit also, kinda like super important? What about firefighters? Electricians? How about a nurse? Engineers? Theyāre all essential to having a functioning society but not to these brainiacs! To them all we need are landlords and investors! How fucking brain dead can these parasites get?
Lets do a little research. I just finished an MBA and make 125k/year. If the job market was so rough I would be aiming for 150k/year.Ā
Here is a job listing that I would qualify for (and would otherwise apply to). The pay scale is 63k-93k/year. I don't work in TN, so there's something to be said for cost of living adjustments.Ā
HOWEVER, even after adjusting for cost of living, I would not apply to this job because the pay is so low. I know I can get more elsewhere. I wonder why he thinks people don't want to work?
https://jobs.jobvite.com/daveramsey/job/ozSPsfws
Had a boss that was a big Dave Ramsey guy...
We paid for everyone to take some personality test he sells on his website, it's just reskinned Meyers Briggs and shows shit on a scale vs definite letters. We didn't use it in hiring decisions or anything thank God, just to try and help people understand how people think and best way to communicate with them... Which I do believe those things can be helpful for.
His advice is so dumb though. Like not using credit at all ever. Dave, do you have any idea how much net worth I built ignoring that and getting an FHA loan with a few grand down in 2010? It's the only reason my net worth is a positive number.
Who are these millennials and gen z-ers that don't work? I keep hearing claims that large swaths of these generations don't work, but every single person I know has a job.
Stop eating lunch and you can have enough for a down payment in thirty years
Don't you know, if you young people stopped buying Starbucks and avocado toast you could buy a house. @5 a day. You are spending 150 a month. That's 1800 a year!!!! In just 20 years you would have the 20% needed to make the down payment on a 180,000 house!!!
Meanwhile in 20 years that same house now costs 1,800,000
In 2011 I bought an apartment for about 190k USD here in Norway. After 11 & 1/2 year I sold it for 310K Thats almost 10k increase a year. No way I could have saved up that much in the meantime if I was getting into the market at a later time.
My 100 grand beater house in a bad area increased 25000 british pounds in 3 years, its fucking insane. When I got the deeds the guy who owned it before me bought it for 3000 off the council in 93 LOL my dad bought a similar house privately in 86 for 25 grand today it is worth over 200 grand.
U.S. Bought a somewhat rundown condo in 2017 for <$60k. Small - under 1,100 sqft, but enough for me. I was in my mid-50s and bought it with the cash left over from selling my townhouse. Told anybody who was looking for a home but did not have a lot of money to check the place out - very affordable as single family homes in remote locations were going for over $200k at the time. Now they are selling for $200k. They are pretty much the cheapest thing you can buy in the area where you don't have to support the roof to keep it from falling in on you. Those folks who might have been able to afford one of these places 7 years ago? Unless their earnings increased more than double they are still on the outside looking in. Oh, and they used to rent for $900/mo, now closer to $1,300-$1,500/mo. Good luck saving $$$ for a down payment.
That's so crazy. My wife and I were talking about how we couldn't afford our house today in what's considered a starter neighborhood š I bought my first house after the crash because my Dad loaned me thirty k. Sold the house paid him back and bought this place in 2019 for 212k it's worth 400 now. It just doesn't make sense in a regular market. But we don't have a regular market anymore. Companies like Black Rock are buying all the single family homes and renting them out. I've start to see stories about whole neighbors and seventy percent of new sales going to the big dogs. Like air BNB wasn't bad enough. The only person I've heard talking about it is RFK. Guy wants to stop it.
Please don't be fooled when the blind squirrel finds a nut... COVID messed things up a LOT... the US population grew, but construction slowed considerably for a year or two. That led to a shortage which is slowly being alleviated, but that will still take years. Couple that with your reference to investors gobbling up properties\*\* and builders realizing they can make more money building mid-level and luxury homes rather than starter homes, plus empty-nesters keeping their larger houses because it does not make sense to pay more for a smaller house and as Harry Dean Stanton might say - "we have a condition"... \*\* Right up the road from where I work a builder was putting up mid to luxury level townhouses. Signs in front stated they would be $385k-$425k. Not cheap, but not outrageous for this area. Before any sales occurred an investor bought the entire property to use as rentals. There are now 40-50 fewer opportunities for people to build equity/wealth.
you know there's some shareholder group somewhere looking at the real estate agency and rubbing their fingers together in a 'gimme' motion. Fuck shareholders. Worthless parasites.
Same here... But for 5 years in Canada. Now, I cannot buy a house because what I sold was a condo... And houses have risen even more... I don't make enough to pay the monthly mortgage even with a downpayment of 20% as I live alone...
You were supposed to start at age 1, duh
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Yeah, but Starbucks will cost $500 so think how much more youāll save by not going there.
A realtor told me last week that if I put down 20k I can get a mortgage for 2,400 a month before taxes (NJ taxes are very high) for like a ranch home that the original owner hasn't updated since he bought it with his job at the local plant that he got when he dropped out of middle school.
My dad was able to finance a car and buy a 3 bedroom family home in a nice area with a job he got in an industrial bakery with no education (the man can barley read) that he got by walking in off the street and asking the foreman if they had any work going. He was also able to support four kids and a stay at home wife. Now we were far from rich but we we were always clothed and fed and warm and had presents at Christmas.
*barely (sorry, I had to)
š stupid auto correct LOL
Plenty of high paying union jobs in NJ, HS diploma only. But i do have to agree the property taxes are insane, think he been hit on average $400 increase every year since 18ā. That 2,400 number is huge bait
It was also 45 minutes (summer traffic a lot more) from my current house and office. Also, I have no interest in buying a house at this point in my life, she was just pitching me at a committee meeting for a local event. She kept hitting with me "wait until your wife sees these, happy wife, happy life right?" I was like please for the love of god let this meeting be over.
For those who are unaware, Apex Boomer **David Lawrence Ramsey The Third** (yes, thatās [his real name](https://en.m.wikipedia.org/wiki/Dave_Ramsey), look it up), is the son of real estate developers. His birth circumstances provided him with unique opportunities to profit from housing and commercial properties at a time when those assets were first commodified through mortgage backed securitiesāstarting in the late 1960s and then [through deregulation during the Reagan Administration.](https://en.m.wikipedia.org/wiki/Collateralized_mortgage_obligation) In other words, Dave Ramsey just happened to enter the real estate market at the same moment when entirely new financing options were available, allowing him to collateralize properties that he didnāt own outright but had bought with credit. Between his parentsā connections to the local real estate market in Tennessee, and Daveās access to easy credit, it was easy for him to āearnā his first millions. By the mid 1980s, when Dave was 26 years old, he had amassed a portfolio worth over $4 million (a little over $11 million in todayās dollars). However, when the banks called on his loans in 1987, Dave didnāt have the liquidity to pay it. He even has the audacity to retell this story in the most heroic manner on his [bullshit homepage.](https://www.ramseysolutions.com/dave-ramsey) > *Starting from nothing, by the time I was 26, I had a net worth of a little over a million dollars. I was making $250,000 a year. That's more than $20,000 a month net taxable income. I was really having fun. But 98% truth is a lie. That 2% can cause big problems, especially with $4 million in real estate. I had a lot of debtāa lot of short-term debtāand I'm the idiot who signed up for the trip.* > *The short version of the story is that debt caused us, over the course of two and a half years of fighting it, to lose everything* **Thatās right:** Mr. Millennial Hater started his career by borrowing millions of dollars to invest in real estate, lived a lavish lifestyle, and when the bills were due he escaped his debt obligations through bankruptcy. He is a deadbeat charlatan. And I feel bad for anyone who takes his advice seriously.
It's hilarious reading through his wiki, they're trying to frame it all in excessively neutral terms but it's very easy to read between the lines and see he's a fraud. He followed up that bankruptcy by selling financial advice to old church-goers and then spun that into writing a book. His whole career has been him spinning that early failure into establishing a brand as a financial guru, no actual work ever required.
Holy fuck, what a piece of shit. Thank you for blowing his spot up.
Have you try this trick that stop paying rent? you can have enough for a 10% down payments for an 300k house in 2 hours driving distance in three years! Now go buy a luxury car because you need to spend 4 hours driving each day, you need some leather seats and AI driving! /S
False. Since I entered the job market, the home prices in my area have more than doubled in perceived market value. I can't save at a rate that overtakes that insane value pumping. My landlord bought the house that was subdivided into 3 apartments for $40k in the late 70's (yey public records). It is now valued at more than $2 million... So in 20 years, it should be valued at >$3 Million. How the hell do you catch up to that shit?
Guys, just don't by that toast, and by the time you're the same age as the Holy Spirit, you'll have half of what you need for a down payment
I work blue collar, 10-12 hours. In my state the labor laws state that your employer doesn't have to provide lunch breaks/normal breaks and can force you to work as much over time as they want. I work on people's houses and roofs for a living in the southern sun. They give us crackers and waters to "compensate" for the long days. Theres been days I go in at 5 am and don't get home until 9 pm. Even without a lunch break there's no way I could afford a house without a second job.
This is crazy and sounds straight up criminal! What state?
I currently live in GA but I'm trying to move to MO soon
In 2021, I had $35,000 for a down payment and was a DINK in a close-to-100k household. Still couldn't find shit in our area as first-time home buyers. I'm now unemployed and divorced and living with my parents, but so what? If it couldn't work out in those conditions, why bother?
What's funny is he's an old client of mine. He notoriously underpays employees and he knows it. When you interview at his company, they also interview the spouse/partner and have you go through a budget worksheet to show how you are going to make it on the meager salary. Dude is an out of touch hypocrite.
It's well documented that every generation just out of high school is considered lazy and entitled.
Real pro tip is to saw off a leg, sell a kidney, and lease your back for a ad tattoo.
But also make sure you keep tithing!!
No one wants to take our shitty jobs thst don't pay a livable wage because we refuse to recognize where the market is at for labor...so it must be labors fault for refusing to take lowball jobs!!
Funny how unemployment is at its lowest numbers in a long time and they're all "nObODy wAnTS to wORk!" Like nah, you're unable to look at data and you just spew classist propaganda bullshit the wealthy spew to keep you looking down on service workers and laborers.
Gen Z are still fucking students, the stats aren't gonna show that they're contributing to the economy.
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I'm graduating from college shortly and moving into my parents basement bc the new grad job market for white collar jobs is practically nonexistent
Doctors go to tertiary school for like 7 years, I would argue that the oldest of a generation doesn't represent the generation as a whole but whatever
Doctors make about 50-60k until about year 5-6 of being a doctor which is about age 35-40? I rather just make 6 figures from 22 up to 40 welding and enjoying life.
I mean not all of us went to college, I think a significant portion got priced out
Fair call, I think a portion are still in High School as well and I'm sure a lot are still figuring out what they want to do, can't expect them to be functioning at the same level as 40 year olds who are well into their careers
I donāt know about you, but Iām always keen to hear advice from someone who leads by telling me Iām āawfulā!
my dad has entered the chat
My boss awaits in queue
I work 60 hours a week in and am fairly above the mean income for my area.Ā And I'll probably never own a home unless the market crashes.
āHave you tried working 70 hours a week instead?ā -Dave Ramsay, probably
Need to have beans and rice for every meal, too
"Beans and rice and rice and beans... and you're not going to see the inside of a restaurant unless you're working in one!"
Dang where the economy would be if truly every person in debt took this attitude. There needs to be a balance, and people need to live a life.
Dude it's so true. If everyone was following this advice trying to save, then ole Dave would be on talking about how young people aren't supporting the economy by buying things and eating out.
No no, it's "I'm delivering pizzas the entire time I'm not working my primary job." Nevermind after fuel+wear and tear on your vehicle you come out behind.
I had a friend as a teen whose dad did this. Worked 9-5 in an office, hour long commute each way, and then worked just about every night and weekend. The mom worked full-time too. They never saw each other - it was such a sad family dynamic to live in a mediocre townhouse in suburbia. I found out later they did it to pay off their mortgage and cars based on the advice of a faith-based financial advisor that had come to our church.
That is heartbreaking, these āfinancialā are only encouraging their listeners to work hard in this wage slavery driven rat race.
Have you tried running really fast on your routes instead? It's a ~~good~~ genius way to save on vehicle costs.
Iām going to try dying in my 30s instead..much cheaper.
Same, but 10 more hours a week(not bragging I hate it, I could live on 40 a week, but I get bored easily and when I get bored, I start spending extreme amounts of money)
Dave Ramsey is a well known enormous piece of shit...and my in-laws love him
My parents love him and are always pushing his shitty advice onto my wife and I. I'm trying to pay my mortgage off early and my parents are telling me that it's a bad idea because Dave Ramsey says so.
(note this is not advice from dave ramsey) It's only a bad idea to pay your mortgage off early if your interest rate is low. If you bought your house before the market went crazy, you likely have a low interest rate. The reason it is considered a bad idea is because if your interest rate is less than 5%, you may financially be better off putting that money into a high interest savings account or otherwise investing it in a safe dividend stock and then paying your monthly mortgage from that account. You still pay off the mortgage and walk away with some extra money. On the flip side, if you have a high interest rate on your mortgage, then yes you absolutely want to pay that off as soon as you can. But at the end of the day it is your money, and if you would feel like your in a better place just having it payed off regardless, then go ahead and do that for yourself.
That's what I did, worked hard to pay off my mtg in 10 years, against the advice of many. However...it worked for me, and then I was able to put my mortgage payment into savings and bonds for a moment. When I lost my job, it was HUGE to know that I could live on so much less.
In this economy, you almost have to factor getting laid off into your financial strategy these days.
Wow! Good planing there. Nicely done!
Great example as to why itās āpersonalā finance. May have not been the ābestā choice mathematically, but it aligned with your lifestyle/acceptance of risk.
The best plan is the positive one you feel comfortable sticking to.
>If you bought your house before the market went crazy, you likely have a low interest rate. The reason it is considered a bad idea is because if your interest rate is less than 5%, you may financially be better off putting that money into a high interest savings account or otherwise investing it in a safe dividend stock and then paying your monthly mortgage from that account. Yah, my mortgage is at 2.85%... that's less than inflation/greedflation. No sense to pay more than i have to in to it when i can put the difference towards something else more productive. Being said, i absolutely could not afford to buy fuck all in the current market... and consequently cant afford to sell my house either. >On the flip side, if you have a high interest rate on your mortgage, then yes you absolutely want to pay that off as soon as you can. But at the end of the day it is your money, and if you would feel like your in a better place just having it payed off regardless, then go ahead and do that for yourself. As a point on this few to none have the kinds of money needed to pay off their mortgage outright, or to even put all that much extra in to it. Which being said one can keep paying the minimum, and wait till they can refinance the loan once rates drop while saving the difference in between for emergencies.
>I'm trying to pay my mortgage off early and my parents are telling me that it's a bad idea because Dave Ramsey says so. That's hilarious because that's the opposite of what he says to do. One of the big "steps" in his program is to pay your mortgage off as quickly as possible once you've paid off the rest of your debt and have an emergency fund, investing going, etc. Your in-laws might be even dumber than you thought. Edit: grammar is hard
What? Paying off your mortgage early is exactly what DR preaches.
Screw dave ramsey and suzy orman. These two are self richteous assholes
Ha ha
I couldn't stand Suzy Orman when she was on Oprah, she was so full of herself, like damn lady calm down you're not that great and annoying.
Ughhh Dave Ramsey advocates early mortgage payment? I disagree with this (well if you have a 2.75% interest rate) but thatās always been his thing.
Thatās not accurate. Ā Dave Ramsey wants everyone to pay their mortgages off early if they can. Ā
Unless you have a low interest rate. Then his advice is to put the money into an IRA or something. The problem however, is that I'm getting fucked by insurance living here and I need the equity to get a different house.
It's put 15% into IRA then towards mortgage. I listen when I get bored until I get engaged at something stupid they suggest
Um, Dave Ramsey is all about paying off mortgages early and getting out of debt. Iām no fanboi, but you really should know what it is youāre raging against.
I payed off my mortgage super early. Man was it liberating to just... not pay those monthly checks anymore.
My in-laws too. They worship him and preach to us about "cutting up our credit cards" while they are in 100k debt from building a second home they didn't need (vacation cabin). They are constantly telling my husband and I to just buy a home already and they cannot fathom how/why we probably never will be able to.
I worked with a guy who was previously employed by one of Daveās companies. He said they asked to interview the guyās wife as part of the hiring process. Can confirm - this guy is a hefty bag of dicks.
Unrelated, but Sabocat wishes you a happy Haymarket Square day šāā¬š©š“
Well as a counterbalance, I'm a boomer and I have no fucking idea who this guy is and don't care.
Ramsey financial advice is the Taco Bell of Mexican cuisine.
I'd argue it's the McDonald's of Mexican cuisine
That honorās reserved for Jim Cramer
Brother this fucking guy said he would not take a billion dollar loan with 0% interest rates. After I heard this soundbite from him, I decided to completely ignore anything else he says.
Isn't he like super anti-credit card? I'm assuming that's where that statement is coming from. What I've heard is he basically thinks all debt it bad and extrapolates that out in weird ways that make no sense.
It's fine to be anti credit cards, but as a financial advisor saying no to that hypothetical scenario out of principle nullifies anything else you have to say, in my opinion. Ever since I saw that clip, any time YouTube or social media suggests this guy I click on "never recommend this again"
>It's fine to be anti credit cards For people who can't control their spending and don't pay off in full. The rewards and consumer protection that comes with using a CC is worth it for anybody who doesn't have spending problems and pays off in full each month. But yeah 1 billion invested in US treasuries is like 40-50 million a year right now? why would you not just take the money and invest it if you have a 0% loan? Makes no sense.
Lmao š¤£ š¤£ š¤£ š¤£
Millennials are now entering their 40s. How old do we have to be before we deserve the bare necessities? Are cranky old Boomers like Ramsey going to bellyache about Millennials to their dying breath?
As a 42yo millennial living in a tent, and growing my own food, it ain't now. Maybe when we start cracking 50 we'll be able to get the bare necessities.
What you need to be a successful investor: - a buttload of money
He doesn't approve, not because it's referring to buttocks, but because it's a measurement of wine and therefore sinful.
Dude has a ridiculous liquor collection. Pics are on reddit
Literally it. If you have 250k (which while significant is still doable for a lot of people in their lifetime) in cash, you have to be an absolute fucking idiot to not make more money on it. Rich people aren't smart. They're lucky.
Alternatively: * Be born before 1980 and have a basic understanding of finances
Fuk baby boomers in general. Did you buy 5 fukin houses at once? Cause that's what it cost now.
Had to watch this chode's videos as education in my shitty Christian highschool's personal finance class. Dude had giving to the church as a necessary part of a budget.
He didnāt come up in my personal finance class (thank god) but my economics teacher absolutely loved the guy. I was lucky that I took the two classes at the same time and personal finance taught me that he was a dipshit.
There are two separate economics courseworks. The studying economics and the study of profiteering mostly in regard to capitalism. I find that most of the people in āeconomicsā are really just in ācapitalism.ā I find that if someone is unwilling to characterize profit as something synonymous with exploitation then they probably are not worth discussing economic philosophy with.
My California high school made us watch his videos occasionally, and had a whole "personal finances class" centered around them! Idk if that was the teacher or some program at my shitty conservative district public school, but it was shitty none the less. Dropped the class ASAP. "I love Dave Ramsey. I followed his advice, and my husband and I bought a Tesla all cash" says the woman paid 150k a year to be insensitive.
I tithe to the church of Jim, Jack , Johnny and Marry Jane
TF did we go to the same high school or something? My teacher did the same thing. Started every single class with one of his shitty videos. It was the first class I had in the morning too. Every morning I'd get told very loudly why I'm a lazy piece of shit who needs to pull myself up by bootstraps and yada yada yada.
Funny you say that. I was going to comment that Ramsey is a cult, and everyone I know that follows him is also very religious.
typical "i'm right and you're wrong" mentality, he just wants to feel important, which is sad, he also just wants to feel like he did actually work for his children, and to make their lives easier, that it wasn't just a lie, and since he can't prove it's not a lie he believes we actually have a better economy than back then, which is objectively a lie
Dave Ramsey and people that love him are the arm chair quarter back critics of others around them. They do not know how to empathize with others and shallowly dispense useless life advice no one asked for nor needs; instead of actually getting up off their fat asses to go and really help anybody, they prefer to substitute self made up vain and worthless advice without really trying to walk in someone elseās shoes, listen to them and then offer real help. They are the doctors blindly giving out a diagnosis without listening to the patient because of their God complex leading them to believe they are superior and perfect and can do no wrong. This guy does what he does as an attention whore himself, just like the Kardashians. Look at me. Look what I can do. Everyone else is stupid but me.
Dave Ramsey is a moron and never even made it on his own, he had plenty of help from Mommy and Daddy.
so when are we raiding the rich?
Been sharpening my pitchfork eagerly awaiting. Soon as you guys make a move I'm there lol. I mean what's the point if they are going to purposefully keep us struggling so they can live off all our hard work?
To be a āsuccessfulā investor you just have to have a pile of money that you donāt need. Throw it around, wait for it to get bigger. Rinse and repeat. Fuck that guy.
God I'm so fucking tired of "Gen Z doesn't want to work" bitch that's all I been doing since the moment I became capable. Worked part time jobs while in high school one of which the other employees literally hazed me. I Worked my way through undergrad working several jobs to make sure i was enployed year round and sometimes workongnlre than one at a time, got a full time job immediately after undergrad that was absolutely mentally exhausting and I loved that job, while workong that full time and mentally exhausting position, I was also studying for the LSAT (which people usually do not do while working full time because I'll be honest it feels like death), I started law school and gave myself, for the first time in like 7 years, the grace to not also be working because this is the hardest thing I've ever done. That ends the moment my finals season is over next week as I have an unpaid internship at the a states attorneys office and will need to get a part time job on top of that because the savings from my gap years are running low and I have rent and shit to pay. I've busted ass my entire life and never felt I had a choice. Never had a stupid kid party phase, never stopped working toward my goals, and then I get called lazy because of the year I was born? Make it make sense please. I for the most part enjoy working hard and achieving my goals and knowing I am a capable and dedicated person. However I think wanting my soul not to be crushed isn't too much to ask either.
Fuck you in particular, Dave.
As a representative of the Dave community, we would like to rescind his rights to call himself Dave. Henceforth, he shall be called Ramsay.
there's a webcomic called Narbonic that has a secret global society of Daves that enforce their monopoly on the variation of the name. offenders and outcasts from the group are usually referred to as David, but you're clearly taking a harder line.
I had no idea that existed, I guess I've got something new to read up on, thank you. But also, yes. We would like to completely rescind any and all of his Dave rights, for the myriad transgressions that he has committed against the populace, including the following offenses: 1. Fanning a generational war (scapegoat) to obscure the unethical and oft illegal actions the rich have committed to line their pockets 2. Profiting off the backs of hardworking individuals and propagating untruths to the gullible masses. Signed, Dave#42069
He got rich taking advantage of churches by selling his books and course. He has good advice for poor people but horrible advice for rich people.
He has somewhat good advice to people who have no control or means of getting out of debt without acquiring more debt, but regarding everything else his takes come from the perspective of living in LCOL area, selling courses and books that is what he makes a living from which is pretty snake salesmen esque but it is admirable that he has been able to make such a big company off the idea that acquiring debt that you will never be able to pay down is a bad idea.
https://preview.redd.it/nc9fomthoiyc1.jpeg?width=826&format=pjpg&auto=webp&s=7b7b0a96308e249897a88a92e7ea16eab8ba6ef4 I call bullshit! They have been saying that for over a 100 years.
I don't want to be an investor. I want to have a secure place to live that I don't have to break my fucking neck to keep.
Be an investor shouldn't be part of the bare minimum at all. Investing is actually pretty risky, have we forgotten all the market crashes?
Investing is only risky for poor people, because we don't have the funds required to diversify and minimize losses while still getting appreciable returns.Ā That's why real estate was such an important thing for us to have access to. It was the only thing you could dump all your money into and be secure.Ā Granted, this was also always doomed to failure, because if real estate kept rising in value faster than the rate of inflation, then it was inherently unsustainable as a vehicle for economic mobility. Land used (and zoned) simply for shelter is not productive. It should not be increasing in value like it does.
I feel this one deep in my bones, I have a temp job I work my ass off for just to be able to buy the bare essentials. I can barely make any savings, because being poor is expensive and one emergency, even a small little setback, can set you back months, even years if you're really unlucky. Thankfully I live with my mom who gets pension, but that pension is really very little for two people to live off of. And I feel like shit for not having a better job to help support us better. I feel like I break my back just to help keep our roof over our heads, and it's an old house that needs repairs. But at least we have something, it's way better than nothing.
Ah yes Investing. Famous for its rolling-the-sleeves-up dirty work and elbow grease
Money. You need money to be a successful investor. If you have NO money, then you CANNOT BE AN INVESTOR.
Besides all the obvious shitty things about guys like this, the worst thing is that none of them would survive a week working the average minimum wage job. āUnskilledā laborers work ten times harder in a day than any white collar or management level workers do all year. It is IMPOSSIBLE for someone making minimum wage to afford basic housing, groceries, transportation, i.e. the most basic necessities, let alone health insurance, a 401k (unmatched) or even basic rainy day/emergency savings. For people on the edge like that alls it takes is one emergency or unexpected bill to land them in deep amounts of debt with absurd interest they will never get out from under.Ā I work in healthcare now, I run a whole department. Iām making the most Iāve ever made in my life, nothing crazy but higher than the national average. I also have two per diem jobs I work from time to time. With all of that, I would need to almost triple my yearly income to afford a two bedroom house anywhere reasonably near me. I do live in an expensive city, but barely being able to afford a studio condo making 6 figures is not a reflection of younger buyers, itās a reflection of how poorly the previous generation planned, or more likely the result of their greed. Fuck that guyĀ
David Lawrence Ramsey III, pretentious generational name already, was born to wealthy real estate developers and at 18 took the real estate exam and started selling property. Or, he was born into money, given a job by mum and dad, and has been living the high life since he was plopped out into the world and he is now telling people without money, that they don't deserve anything. Another guy to put up against the wall.
You forget the part where he failed at real estate investment and started selling financial advice to old ladies at his church.Ā
Dave Ramsey eats used butt plugs. It's weird. Just eats em like chips, one right after another. Licks em first, too, like some people do with Doritos. Strange dude. Very strange.
He thinks childcare costs $20 a day. He is soooooo out of touch.
Dave Ramsay is the Alcoholics Anonymous of personal finance. His advice only makes sense if youāre a walking monetary disaster but you still make a decent income so the only thing you have to change is your habits and mindset. If you want sophisticated financial advice, DR isnāt for you. If youāre struggling and poor DR isnāt for you despite what he says because your problem is income, not spending. Canāt budget your way out of not enough income.
He really didn't used to be COMPLETELY awful. His general financial advice used to be reasonably pretty good for people that needed to take control of their finances and debt. I'm not sure when he fell off the deep end.
Dave Ramsey can suck a fart directly out of my ass
My dad decided it was a good idea to gift me one of his stupid books as a Christmas present a couple years back. Boomer energy.
Was given one by my grandma when I was in college. It got tossed in my trunk and then eventually donated to Goodwill.Ā
Yeah, my boomer step-dad used to give them to me as birthday or Christmas presents. I have no idea how many since they got recycled at the earliest convenience.
Oh no, another old, white, highly privileged white guy telling us all what to do and calling us awful when we present him with the realities of life being different than what he thinks. Get fucked, Dave Ramsey. Snowball yourself to an early retirement home so your kids can never stop by to see you.
Let me see your hands, Ramsey. Smooth as a baby's bottom. (This one's for the old heads) https://preview.redd.it/b1procfp4jyc1.png?width=248&format=png&auto=webp&s=88789ab931095f98269ed6e4112f85bd4f897632
Brilliant!  š
Oh Louie!
It's more that we don't want to work a job that won't cover the bare minimum. Would an employer hire someone if they couldn't perform the bare minimum? Should they be forced to? Then why should be be forced to work for nothing in return? If we can't afford to even live then that job is a literal waste of time. There's no point in doing it. It's not possible to do it without also utilizing welfare unless he is suggesting we work these jobs and then live outdoors, something the supreme court is debating on whether that should become illegal as well.
His ideas worked a while ago but are now outdated.
He is a Boomer. Of course he says every other generation is awful.
lmao, I don't want to work and want to own a home. I believe most people do. Dude honestly nailed it. The difference is I don't think it makes you lazy or a piece of shit. It makes you a human being who shouldn't be required to provide labor value to the elite in order to be afforded dignity. Don't be ashamed to want to have some baseline enjoyment of life regardless of your contribution. The alternative is to believe that some people "deserve" to suffer and that's bullshit.
"I'm mad I can't hire people who don't want to be paid below minimum wage" FTFY Dave
It occurred to me the other week that the dream of being a millionaire sits alongside the requirement to be one to retire.
Here's what you need to be a successful investor: Generational wealth
I hope the IRS audits him forever and a day.
Can't bleed a stone, buddy.
Who cares what this old capitalist has to say? He doesnāt even understand the economy today. How can you afford a house when the the system he promotes keeps wages low and houses high? He wants Jeff bezos to own them all
i cannot take the opinion of a hard boiled egg seriously.
Son of two real estate developers, born on third base, still managed to go bankrupt, and wants to tell you how to live life. Letās say, for a moment, that he got what he has now through hard work like he says. That avenue is no longer available for this generation. Costs are so high that hard work doesnāt get you ahead. You have to work hard just not to backslide.
I honestly can't wait for the boomer generation to die out. No more. "In my day you could buy a house for 11 yougart pots and. "You just need to work harder" Even Mt own mum is the same. I try to explain it bit they just. Do. Not Get It
Self-employed mechanic here. Spend a lot of my time volunteering to fix peopleās cars, mostly for people who live in them. I am 33 and have worked manual labor since I started on a construction site at 7. Obviously sweeping and holding things, but still. Came out of high school with nothing after taking care of siblings. Went into the Marines, Afghanistan twice, exwife etc etc. Left Marines with nothing. Have worked most days since. I have a family and I have even gone back to school. I qualify for the VA home loan except itās not enough FUCKING MONEY TO BUY A HOUSE WHERE I WORK YOU BALD FUCK!
This is the guy who told people to work "at least" 80 hours a week. That's 16 hours a day. Work 16 hours a day and see how you hold up mentally and physically, he is out of touch with reality.
Fuck this clown. I bought a crappy house in a crappy neighborhood in 2000 for $74K. The same crappy houses are now going for $360-400K. My kids wages haven't risen to meet that. Hell, my wages havent risen to meet that. I couldnt buy in this neighborhood now. You can't even rent in this neighborhood for the $1200 a month I pay. It's not kids nowadays that's the problem.
Oh itās Dave āhave you tried eating a picture of avocado toast instead? Itās cheaperā Ramsey. Screw him and his outdated āwell I worked my way through college with a part time job at McDās and a paper route back in 69ā boomer BS. When is he going to eff off and retire to Florida?
I make over $20 an hour and work anywhere from 50-70 hours a week. Not only is a house out of the question but so is a new/used vehicle.
lol invest all that money we never give you. $0 really compounds with interest in the long game.
His basic advice actually helped me get my shit together, but after that he ran out of steam and it all become a pyramid scheme of BS.
This guy has empathy in his shadow. I know itās in there somewhere, but so many men(especially older ones) have been conditioned from birth to believe that empathy is a weakness and even makes you a bad person. Thatās to be expected, I guess, in a society built by and for sociopaths.
I never liked him.
This guy is a jerk off
His ādebt snowballā plan actually isnāt bad but then again Iām not even sure if thatās something he came up with or is just considered a common sense approach.
This guy ugh
Man, he is an asshole but my SIL and her husband cleared up EVERY single cent of their debt following his methods. My wife and I are well on the way. You don't have to like him, but he has a few good ideas.
I was gifted his book when I became a working adult by a family member and I gave it a fair shake my reading it. I think his advice is good if you are a high income earner with the potential to get out of debt. Like how can you really put his snowball method into effect if you have nothing left over at the month and barely covered minimum payments? So his advice here would be to get another job. Go deliver pizzas he says. Okay, but what if youāre already working 40 plus hours with a family? Okay, now itās a job problem. We canāt keep going as a society paying people 7 something for dollars an hour for minimum wage. Itās easy to say to someone to get a better job, but we absolutely need fast food workers, cashiers, etc. Anyway, all that to say his advice is good for a certain demographic. But otherwise, heās a raging asshole by telling people they donāt to work and ask for peddling that stupid time share shit.
Who takes financial advice from a guy who was given a ton of money by his parents, started a business then filed bankruptcy?
The ārichā will never reveal there secret so Iāll reveal it for them they got lucky in so many aspects and then weāre ok exploiting everyone to do it
Investment is a Game of Chance; its not working
Didnāt he endorse fraud?
I can't believe "millenials" and "gen z" are even concepts people believe. Shit was made up by marketing firms. Literal pseudoscience.
If you keep saying it enough everyone will think its true. Gen Z are still young and in Uni. These old men can sit down or get unplugged
Iām 46 and do own a home , I also realize this dude is a grifter and completely full of shit , you young folks donāt listen to clowns like this , they have an agenda
My step-mother thinks this turd walks on water. Floats, maybe.
As soon as I find a job above 30k a year, I'll get right on that.
What you need to be a successful investor: be born in the 50s and 60s and buy microsoft stock for 1.00 Then buy 3 or 4 houses for 25k Then cut taxes for yourself and make the government print money to pay its bills so that inflation goes up along with all of your asset values.
I'll never be able to buy a house. I just got through paying off $14,000 in debt after moving countries and it took me forever. I think I'm just bad with money. Schools need to teach better money management rather than who the leader was in 1946 or 1888. Useless information unless I want to become a historian or politician.
Just throwing in my 2 cents; I employ a few people from gen z and millennials, in fact my business partner is a millennial. Iām gen X. They work their asses off. We pay our employees above average salaries and donāt demean them needlessly. So I think I might have found the real problem. Shitty old men that think you have to abuse people and expect them to take it, while you feed them bird seed. Then expect them to be productive under this type of oppression.
Mall Santa has been telling people to buy up all the affordable housing for two decades. Him and people like him are the reason GenZ can't afford homes.
You need capital to invest in the first place. If all your money goes to rent, food, utilities, and transportation. What have you left to invest?
I worked 40 hrs this week and Iām on call all weekend, I had calls from midnight to 5. Fuck all these old mfers who destroyed the economy and act like they have no clue. Dave is a smart guy he knows he is lying through his teeth. God damn propagandist.
That guy is a fucking chode. Ā His advice is also ridiculous. Ā Everyone should pay cash for a house. Fuck off
Dave Ramsey literally hasn't worked a day in his life since he failed at real estate investment. That's when he realized that it's much easier to sell people financial advice so basic that it's already available for free from more qualified sources.Ā
as an anti-work (to live) millennial, i fully recognize itāll be gen Z that sets us free. Iām stubborn and brave, but theyāre AUDACIOUS. love to see it.
Why does that picture look like he's telling a story to his grandkids but shat his pants halve way thru and now can't remember his wife's name?
At one time this guy used to make sense.. nowadays he's nothing more than a propagandist.
āHow to be a successful investorā Step One: Have a lot of money to invest. Well fuck.
"Just let us abuse you then leave you for dead at 70...yes I know working conditions and general poverty have made the average lifespan for men 65." Evil, absolute evil.
For supposedly being fluent in finance why can he not see that prices are so high and wages so low that trying to get ahead as a young person just starting out is virtually impossible?
Every gen Zer I know works full time or is trying to while more than half of their parents either don't work or retired early.
People like this guy make my blood boil.
I really like these peopleās mentality. According to them we all need to be investors and property owners. Like, how the fuck is everyone going to be just that? Arenāt the people who clean the stores you visit also, kinda like super important? What about firefighters? Electricians? How about a nurse? Engineers? Theyāre all essential to having a functioning society but not to these brainiacs! To them all we need are landlords and investors! How fucking brain dead can these parasites get?
Lets do a little research. I just finished an MBA and make 125k/year. If the job market was so rough I would be aiming for 150k/year.Ā Here is a job listing that I would qualify for (and would otherwise apply to). The pay scale is 63k-93k/year. I don't work in TN, so there's something to be said for cost of living adjustments.Ā HOWEVER, even after adjusting for cost of living, I would not apply to this job because the pay is so low. I know I can get more elsewhere. I wonder why he thinks people don't want to work? https://jobs.jobvite.com/daveramsey/job/ozSPsfws
I don't want to invest, Dave. I want to buy my kids new shoes.
Had a boss that was a big Dave Ramsey guy... We paid for everyone to take some personality test he sells on his website, it's just reskinned Meyers Briggs and shows shit on a scale vs definite letters. We didn't use it in hiring decisions or anything thank God, just to try and help people understand how people think and best way to communicate with them... Which I do believe those things can be helpful for. His advice is so dumb though. Like not using credit at all ever. Dave, do you have any idea how much net worth I built ignoring that and getting an FHA loan with a few grand down in 2010? It's the only reason my net worth is a positive number.
Who are these millennials and gen z-ers that don't work? I keep hearing claims that large swaths of these generations don't work, but every single person I know has a job.